LYSAKER, Norway – FASTsubsea and Petronas Research Sdn Bhd have signed a joint industry project contract to develop and test a low-cost, topsides-less subsea multiphase pump.
FASTsubsea is a joint venture between Aker Solutions and FSubsea.
According to the agreement, Petronas Research will support the development and testing program while FASTsubsea is bringing the product to the market in 2022.
According to Alexander Fuglesang, managing director of FASTsubsea, the technology allows operators to more rapidly extract additional hydrocarbons from existing offshore wells and installed infrastructure. End users are drawn to the technology as increased recovery now can be done in a much more sustainable way, and at up to 50% lower capex investment than conventional subsea pumping systems.
The participation from Petronas Research comes in addition to a NOK 11-million ($1.2-million) commitment from the Research Council of Norway and allows engineering activities to start immediately.
The project is still open for two further operators to join as JIP partners, the company said.